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IAESB proposes revisions of two International Education Standards

  • IAESB (International Accounting Education Standards Board) (lt gray) Image

02 Aug 2012

The International Accounting Education Standards Board (IAESB) has released for public exposure proposed revisions of International Education Standard (IES) 2, 'Initial Professional Development—Technical Competence', and International Education Standard (IES) 3, 'Initial Professional Development—Professional Skills'. As part of the IAESB’s project to improve the clarity of its standards, these revisions address the development of technical competence and professional skills by an aspiring professional accountant.

Drafted in 2004, IES 2 and IES 3 outline the knowledge context and professional skills that aspiring accountants need for career development. The IESs have been revised to focus on learning outcomes that demonstrate the competence required to become professional accountants. The standards also benefit educational organizations, employers, regulators, government authorities, and other stakeholders who support the learning and development of professional accountants.

The IAESB has begun an initiative to improve the clarity of its standards, redrafting all eight IESs in accordance with its new drafting conventions. As reported last week, the IAESB has already begun with proposed revisions of IES 4, Initial Professional Development—Professional Values, Ethics, and Attitudes.

Comments on the revised proposals close on 1 November 2012. The IAESB is expecting to finalise the revised IES in the second quarter of 2013 and is working towards an effective date of 1 July 2015.

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Click for the IAESB press release (link to IFAC website).

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